First home loans | Mortgage Broker in Park Ridge, Beenleigh, and Jimboomba
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How can a mortgage broker help secure your first home loan
Mortgage brokers are cheat codes to make the home ownership process as easy as possible. Entering the property market for the first time enables a few alternative loan options and grants to assist your entry; however, knowing what loans are available, what grants can help, and what loan options can help achieve your goals can be tricky.
With your Mortgage Choice broker for Park Ridge, Beenleigh, and Jimboomba, Vang Yang can help you navigate confusing loans and take the stress out of owning your first home.
Some of the major things Vang is able to help with are:
- Outlining your borrowing capacity
- Detailing how loans are structured
- Seeking out loans not commonly available to the public
- Sourcing government grants appropriate for your circumstances
If you’re ready for your first home and would like expert advice to ensure you’re getting the best deal possible, book a meeting with Vang Yang this week.
Government grants for first-time home buyers
As a first-time home buyer, you may be eligible for the First Home Owner Grant, commonly known as the FHOG.
The FHOG is a grant that assists home owners in purchasing their first home, by providing financial assistance in relation to the deposit.
For buying or building a new home, the grant amount is:
- $30,000 for contracts signed between 20 November 2023 and 30 June 2025.
- $15,000 for contracts signed before 20 November 2023.
For owner-builders, the grant amount is:
- $30,000 where foundations are laid between 20 November 2023 and 30 June 2025 (both dates inclusive)
- $15,000 where foundations were laid before 20 November 2023.
- After 30 June 2025, the grant amount will revert to $15,000.
The property value cap is:
- The home's total value, including land and any contract variations, must be less than $750,000.
You must also:
- Move into the home within 12 months of completion and live there continuously for at least 6 months.
- Have at least one applicant who is an Australian citizen or permanent resident.
- Have not previously owned residential property in Australia that you have lived in.
If you’re interested in learning more about how the FHOG works, visit the Queensland Revenue Office website or contact Vang today.
How much does a mortgage broker charge?
If you’re not interested in the services of a mortgage broker due to the suspicion that they charge excessively, you can rest easy, as brokers cost clients nothing!
Brokers are paid commission from the lender selected by the client. This means that brokers have no ties or affiliations with any set bank or lender, meaning that your best interests are always front and centre for any broker.
As your mortgage broker for Park Ridge and the surrounding suburbs, Vang can help with:
